Interchange Reimbursement fees
An interchange reimbursement fee is a fee paid by an acquirer (a financial institution that processes card transactions on behalf of a merchant) to an issuer (a financial institution that issues cards to cardholders). With effect from 15 April 2011, BNZ as an issuer of Visa and MasterCard branded payment cards has set the following interchange reimbursement fees that will apply to New Zealand acquired transactions.
MasterCard
For transactions conducted in New Zealand on BNZ issued MasterCard branded payment cards.
| Interchange category | Interchange rate |
|---|---|
| Charities | 0.00% |
| Strategic Merchants 1 | 0.65% |
| Strategic Merchants 2 | 0.75% |
| Strategic Merchants 3 | 0.85% |
| Government / Utilities | 0.70% |
| Petroleum | 0.70% |
| Education and Learning | 0.80% |
| Recurring Payments | 0.70% |
| Paypass | 0.70% |
| Secure Code Merchant UCAF | 1.00% |
| Secure Code Full UCAF | 1.20% |
| Super Premium 1* | 2.20% |
| Super Premium 2 Titanium* | 2.10% |
| Commercial Premium* | 2.20% |
| Commercial Standard* | 2.00% |
| Consumer Premium (Platinum)* | 2.00% |
| Consumer Electronic | 1.00% |
| Consumer Standard | 1.40% |
| Interchange category | Interchange rate |
|---|---|
| Strategic Merchants 1** | 0.40% |
| Charities | 0.00% |
| PayPass Micropayment (<=NZD 15) | NZD 0.004 |
| Government / Utilities | 0.70% |
| Petroleum | 0.50% |
| Recurring Payments | 0.70% |
| Secure Code Merchant UCAF | 1.00% |
| Secure Code Full UCAF | 1.20% |
| Paypass | 0.40% |
| Commercial Prepaid* | 1.50% |
| Commercial Debit* | 1.50% |
| Consumer Electronic – Debit* | 1.30% |
| Consumer Standard - Prepaid | 1.30% |
| Consumer Standard – Debit* | 1.30% |
| Consumer Premium Prepaid* | 1.30% |
| Consumer Premium Debit* | 1.30% |
Note: All fees are assessed as a percentage of the transaction amount, unless otherwise stated.
* BNZ does not currently issue these types of MasterCard branded payment cards.
** Debit product processed in a Card Not Present environment and Prepaid products processed in a Card Present and Not Present environment.
For further information please refer to MasterCard's website.
Visa
For transactions conducted in New Zealand on BNZ issued Visa branded payment cards.
| Interchange Fee Program | Interchange rate |
|---|---|
| Government & Utilities | NZ $0.70 |
| Insurance | NZ $1.00 |
| Charities | 0.39% |
| Recurring Payments | 0.70% |
| Strategic Merchant Electronic | 0.80% |
| Strategic Merchant - Card Not Present | 0.98% |
| Electronic - Visa Classic & Visa Gold | 0.85% |
| Electronic - Visa Platinum | 1.85% |
| Electronic - Super Premium | 2.02% |
| Electronic - Commercial | 2.00% |
| Standard - Visa Classic & Visa Gold | 1.25% |
| Standard - Visa Platinum | 1.85% |
| Standard - Super Premium | 2.02% |
| Standard - Commercial | 2.00% |
| Interchange Fee Program | Interchange rate |
|---|---|
| Strategic Merchant payWave | NZ $0.05 |
| Strategic Merchant Electronic | 0.39% |
| Strategic Merchant Standard | 0.98% |
| Charities | 0.39% |
| Government & Utilities Standard | NZ $0.70 |
| Insurance Standard | NZ $1.00 |
| Recurring Payment Standard | 0.70% |
| Electronic | 0.60% |
| Standard - Card Not Present & Paper | 1.25% |
*Excludes EFTPOS transactions (defined as face-to-face card present transactions utilizing account selection and PIN, switched domestically to issuer).
| Interchange Fee Program | Interchange rate |
|---|---|
| Strategic Merchant Electronic | 0.39% |
| Strategic Merchant Standard | 0.98% |
| Charities | 0.39% |
| Government & Utilities | NZ $0.70 |
| Insurance | NZ $1.00 |
| Recurring Payment | 0.70% |
| Electronic | 0.60% |
| Standard - Card Not Present & Paper | 1.25% |
Note: All fees are assessed as a percentage of the transaction amount, unless otherwise stated.
For further information please refer to Visa's website.
